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<blockquote data-quote="wkmac" data-source="post: 1312396" data-attributes="member: 2189"><p>Did Obama single handedly stop it or did he just maintain the status quo of previous Presidential administrations of both political parties? Besides, in 2010' the United States Geological Survey re-evaluated the amount of oil on Alaska's North Slope in the area known as NPRA (National Petroleum Reserve of Alaska) and instead of a reserve of 10 plus billion barrels of oil, there are only 890 million barrels in reserve. Here is the the <a href="http://www.usgs.gov/newsroom/article.asp?ID=2622#.U1b14lfLJx4" target="_blank"><span style="color: #ff0000"><strong>USGS media release</strong></span></a> on their new findings. I also find it interesting in looking at the <a href="http://www.GasBuddy.com/gb_retail_price_chart.aspx?city1=USA%20Average&city2=&city3=&crude=n&tme=120&units=us" target="_blank"><span style="color: #ff0000"><strong>average gasoline price over the last 10 years</strong></span></a> that the price of gas actually went higher during the late Bush term as opposed to anytime during the current Obama term. Now under Obama prices have stayed higher but looking once again at the 10 year price averages, in late 2010' the price of gas went vertical to then stabilize into higher averages. This upward spike occurred at the same time as the USGS released the reassessment of projected oil reserves as being only 10% of what was previously thought. Less actual product to known growing demand with in the laws of economics say the price will go up and stay up. And as to the recent boom in fracking oil, there is <a href="http://www.businessweek.com/articles/2013-10-10/u-dot-s-dot-shale-oil-boom-may-not-last-as-fracking-wells-lack-staying-power" target="_blank"><span style="color: #ff0000"><strong>some evidence</strong></span></a> that not all is as it may seem.</p><p></p><p>As I said earlier, there are many variables and factors to be considered beyond just the latest sock puppet who occupies the WH. As to oil pipelines, more and more of the Canadian Shale is owned by China State Oil interests. <a href="http://business.financialpost.com/2013/10/22/petrochina-learning-to-get-along-in-oil-patch-says-it-will-fulfill-deal-with-athabasca-oil/?__lsa=3aa4-9cb1" target="_blank"><span style="color: #ff0000"><strong>MacKay River shale</strong></span></a> is all but controlled by Chinese National State Oil Company and former Canadian Oil player <a href="http://www.reuters.com/article/2013/02/25/us-nexen-cnooc-idUSBRE91O1A420130225" target="_blank"><span style="color: #ff0000"><strong>Nexen is now fully owned</strong></span></a> by same Chinese State Oil interests. Again, the complexity of oil is far above Obama's or Bush's pay grade.</p><p></p><p>For the record and full disclosure, I have no love for either Obama or Bush, democrat or republican. I detest them all and consider all nothing more than on this scale.</p></blockquote><p></p>
[QUOTE="wkmac, post: 1312396, member: 2189"] Did Obama single handedly stop it or did he just maintain the status quo of previous Presidential administrations of both political parties? Besides, in 2010' the United States Geological Survey re-evaluated the amount of oil on Alaska's North Slope in the area known as NPRA (National Petroleum Reserve of Alaska) and instead of a reserve of 10 plus billion barrels of oil, there are only 890 million barrels in reserve. Here is the the [URL='http://www.usgs.gov/newsroom/article.asp?ID=2622#.U1b14lfLJx4'][COLOR=#ff0000][B]USGS media release[/B][/COLOR][/URL] on their new findings. I also find it interesting in looking at the [URL='http://www.GasBuddy.com/gb_retail_price_chart.aspx?city1=USA%20Average&city2=&city3=&crude=n&tme=120&units=us'][COLOR=#ff0000][B]average gasoline price over the last 10 years[/B][/COLOR][/URL] that the price of gas actually went higher during the late Bush term as opposed to anytime during the current Obama term. Now under Obama prices have stayed higher but looking once again at the 10 year price averages, in late 2010' the price of gas went vertical to then stabilize into higher averages. This upward spike occurred at the same time as the USGS released the reassessment of projected oil reserves as being only 10% of what was previously thought. Less actual product to known growing demand with in the laws of economics say the price will go up and stay up. And as to the recent boom in fracking oil, there is [URL='http://www.businessweek.com/articles/2013-10-10/u-dot-s-dot-shale-oil-boom-may-not-last-as-fracking-wells-lack-staying-power'][COLOR=#ff0000][B]some evidence[/B][/COLOR][/URL] that not all is as it may seem. As I said earlier, there are many variables and factors to be considered beyond just the latest sock puppet who occupies the WH. As to oil pipelines, more and more of the Canadian Shale is owned by China State Oil interests. [URL='http://business.financialpost.com/2013/10/22/petrochina-learning-to-get-along-in-oil-patch-says-it-will-fulfill-deal-with-athabasca-oil/?__lsa=3aa4-9cb1'][COLOR=#ff0000][B]MacKay River shale[/B][/COLOR][/URL] is all but controlled by Chinese National State Oil Company and former Canadian Oil player [URL='http://www.reuters.com/article/2013/02/25/us-nexen-cnooc-idUSBRE91O1A420130225'][COLOR=#ff0000][B]Nexen is now fully owned[/B][/COLOR][/URL] by same Chinese State Oil interests. Again, the complexity of oil is far above Obama's or Bush's pay grade. For the record and full disclosure, I have no love for either Obama or Bush, democrat or republican. I detest them all and consider all nothing more than on this scale. [/QUOTE]
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